Zhejiang Qingniao Tourism Investment Group

Founder Yao Xinyi (姚新义) controls the group through his position at the helm of DunAn Group. His brother Yao Xinquan (姚新泉) holds a 40.76% equity stake, and Yao Suya (姚素亚) serves as the group's legal representative. The trio's overlapping roles make this a family-directed corporate investment platform.

Qingniao operates as the tourism and real-estate investment arm of the DunAn industrial conglomerate. It is not a separate fund or external manager — it deploys DunAn's corporate balance sheet into property and tourism projects, giving it a direct, proprietary investment posture rather than a fiduciary one.

Known holdings are concentrated in large-scale physical assets: a commercial tower in Hangzhou's Binjiang District, the Shenyang DunAn New City mixed-use development in Liaoning, and a tourism land project at Jiande Fuchunjiang National Forest Park. The portfolio also includes a private art collection in Hangzhou tied to Yao Xinyi.

The 2022 asset bundle sale to Zijin Mining represented a portfolio rationalization event within the DunAn ecosystem. While specific deal motivations remain private, such transactions often indicate either liquidity needs at the parent level or a strategic rotation away from non-core assets under corporate restructuring.

Founder Yao Xinyi's leadership role within the Zhejiang Chamber of Commerce (Zheshang) gives the group access to one of China's most influential private-sector networks. This association — common among Zhejiang industrialists — provides informal sourcing, co-investor matching, and policy insight that corporate investment arms outside such networks lack.